Tánaiste Eamon Gilmore has signalled confidence in Minister of State John Perry so long as his new debt deal with Danske Bank sticks.

The Minister of State received renewed support from Taoiseach Enda Kenny on Monday after an agreement with Danske to restructure a €2.47 million debt.

“The Tánaiste is aware of the statement made by Minister of State Perry indicating that he has reached a settlement with his bank,” said Mr Gilmore’s spokesman.

“Assuming that the settlement holds good, and the Tánaiste obviously hopes that it will and has no reason to think otherwise, he is happy to restate his confidence in the Minister and he looks forwards to working with him in the future.”

Jeopardy
Many in Government circles believed Mr Perry's command of the small-business portfolio was in jeopardy after a Commercial Court judgment against him in July.

However, the execution of the court ruling was delayed until Monday to allow time for a final attempt to resolve the matter. The deal involves an extension of loan maturities and the sale of Mr Perry’s assets, it is understood.

While Fianna Fáil has called on Mr Perry to come forward with more detail about the restructuring arrangement, his spokeswoman said he would not be commenting. Sinn Féin has also said questions remain to be answered.

'Conflicts of interest'
Fianna Fáil TD Dara Calleary said Mr Perry should answer questions as to how he managed "the conflicts of interest that arose at a time when he was seeking further funding from the banks while at the same time being responsible for holding the same banks to account for lending to small businesses".

Although Mr Perry’s statement stressed that his tax affairs are in order, Mr Calleary called on him to set out his interaction with the Revenue Commissioners.

Sinn Féin finance spokesman Pearse Doherty took issue with Mr Kenny's expression of support .

“The Taoiseach should have been notified under the standards in public office rules of John Perry’s conflict of interests and his statement today saying he has confidence simply does not go far enough,” he said.